RPM International Inc. (NYSE:RPM) had its price objective cut by equities researchers at Bank of America Corporation from $58.00 to $56.00 in a report released on Tuesday, July 25th. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Bank of America Corporation’s target price would indicate a potential upside of 14.78% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded RPM International from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, May 2nd. BidaskClub upgraded RPM International from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating and set a $49.00 price target on shares of RPM International in a report on Tuesday, June 13th. Finally, Seaport Global Securities upgraded RPM International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. RPM International currently has a consensus rating of “Hold” and an average target price of $58.00.
RPM International (NYSE RPM) traded up 0.35% during mid-day trading on Tuesday, hitting $48.79. The stock had a trading volume of 866,646 shares. The firm’s 50-day moving average is $53.25 and its 200 day moving average is $53.41. RPM International has a 12 month low of $46.25 and a 12 month high of $56.48. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 35.74 and a beta of 1.54.
RPM International (NYSE:RPM) last announced its quarterly earnings results on Monday, July 24th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by $0.15. RPM International had a net margin of 3.67% and a return on equity of 25.02%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts anticipate that RPM International will post $2.88 EPS for the current fiscal year.
In other news, SVP Edward W. Moore sold 10,568 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $52.04, for a total value of $549,958.72. Following the sale, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at approximately $4,816,249.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of RPM International during the first quarter worth approximately $116,000. Trust Co. of Vermont boosted its position in RPM International by 116.9% in the second quarter. Trust Co. of Vermont now owns 2,820 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 1,520 shares during the period. Timber Hill LLC acquired a new position in RPM International during the first quarter valued at about $234,000. DF Dent & Co. Inc. boosted its position in RPM International by 7.0% in the first quarter. DF Dent & Co. Inc. now owns 4,385 shares of the specialty chemicals company’s stock valued at $241,000 after buying an additional 285 shares during the period. Finally, Flinton Capital Management LLC boosted its position in RPM International by 4.1% in the first quarter. Flinton Capital Management LLC now owns 4,512 shares of the specialty chemicals company’s stock valued at $248,000 after buying an additional 176 shares during the period. 72.65% of the stock is currently owned by hedge funds and other institutional investors.
About RPM International
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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